ARK - Cathie Wood flagship ETF rising again LONG

AMEX:ARKK   ARK Innovation ETF
ARKK double topped about July 19 and July 31st then downtrend until Fri Aug 18th,

On this past trading day, the technology market moved higher lead by TSLA and NVDA.

ARK reversed and started the retracement of the trend down. I see ARK targeting

45 in the mid Fibonacci levels and potentially beyond that to 47.8 being the base level

of the double top. The stop loss is the pivot low on Friday as ARKK awaits a momentum

boosting cross over the mean anchored VWAP. The two TF RS indicator shows the lower TF in

green well over the 50 levels with the high TF black line lagging.

The ZL MACD shows more confirmation. ARKK looks good to enter now. I will zoom from the 2H

to the 30 minutes to find an optimal entry. I may take a large stock position and supplement it

with a single put option for insurance against downside potential. I seek a 12-14 ROI on the

stock trade and some multiples of that on a 2 to 3 week put option.

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